Vinyl revenues are expected to overtake those of CDs in 2021, according to the British Phonographic Industry (BPI)'s chief executive in response to a new report.
Utilising Official Charts Company data, the BPI have revealed that music industry revenues rose 3.8% in 2020, reaching £1.118 billion.
The highest total in 14 years, the continuing vinyl boom and adoption of streaming were cited as contributing factors for the rise.
Despite the UK being under a nationwide lockdown for much of the year, vinyl revenues increased 30.5% year-on-year to £86.5 million (the highest total since 1989), helping offset an 18.5% decline in CD sales, which still amounted to a lofty £115 million.
Read more on officialcharts.com
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